2007-10-19 20:06:20 · 4 answers · asked by Abdelkader H 1 in Business & Finance ➔ Credit
If you are speaking of "finance charges" and "interest charges" on a credit card, they are, in essence, the same.
Strictly speaking, the "interest" is the percentage they use to figure your "finance charge" or as some people call it "interest charge."
"Interest" in an of itself can be used for your advantage (like "interest paid," as mentioned in someone else's answer above, from a bank on your savings) or disadvantage (like "interest charges" or "finance charges" as mentioned above with credit cards, bank loans, etc.).
2007-10-19 20:17:06 · answer #1 · answered by Gauffsa 3 · 2⤊ 0⤋
Finance charge is when you owe money to someone that charge you a fee, a finance charge.
interest is when they owe you money, or you have money in a bank/savings, and you earn interest on your money.
2007-10-19 20:15:48 · answer #2 · answered by Anonymous · 0⤊ 0⤋
they are one in the same
2007-10-20 05:35:10 · answer #3 · answered by Classy Granny 7 · 0⤊ 0⤋
the spelling???
2007-10-19 20:09:16 · answer #4 · answered by yasmin g 2 · 1⤊ 0⤋